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Here is the transcription from today's Santa Clarita real estate update. When you are ready, please connect with me and I'll take great care of you and yours. I'm Connor with HONOR and I'm glad to be of service.
Santa Clarita home experts real estate new update (00:00):
Good for everybody. Thank you so much for tuning in. I am Connor. Mick, may the Lord bless this radio show and you and yours. And here we go with your latest Santa, create a real estate update. I'm Connor MacGyver of the Santa Clarita home experts.com at Remax headquartered here, Santa Clarita Valley, the real estate market. If you've been involved at all, you're going to know it's been very tight, tight, like a tiger, 269 active units for sale. And we've been plagued, no biblical connection. We've been plagued for a very long time with exceptionally low inventory. In fact, if you were to move from the beginning of the year, January, February, once we got into March, it looked like everything was really going to head for a stellar year. We're going to have plenty of units for sale. Plenty of buyers in the market. Then, the dynamic has changed as we don't have plenty of units for sale, but we do have plenty of buyers.
Santa Clarita home experts real estate new update (00:56):
So hence a lot of the competition out there is so extremely high that buyers are now looking for more creative ways to obtain better financing and maybe exceed that particular comfort zone they have. Now today happens to be the 3rd of September, 2020. And of course, I'm Connor MacGyver. This is your real estate update, Santa Clarita for all of you that either own real estate or I'm thinking about selling or just you owners or just you, people that might be thinking about renting or people thinking about buying. I cover the entire gamut within the radio shows. You can see the other broadcast that I do by going to Santa to create a home experts.com forward slash blog. And you'll be able to see all the different articles that I put together, as well as all of these recorded shows. You'll be able to check those out as well. Typically, I'll take this and I'll input it into YouTube as well, upload it there.
Santa Clarita home experts real estate new update (01:52):
And then also whatever podcasts networks you see, all you have to do is search whatever your favorite is or any of the different podcast stations, including Apple iTunes, and so on. Just punch in Connor MacGyver, M a C I V O R. I know it sounds like the other guy, but I can't make explosives or anything out of bubble gum. Like he can. So again, that's how you find our radio shows. And of course, you'll see everything at Saquon home experts to make it easy. So here we are in September. So we're getting into that last quarter of 2020. It seems that real estate itself is moving at a very fast pace. However, it depends on the city. And then it's also going to put on that price range, price range, being very important. If your property, the one that you might be considering consider selling or even consider buying happens to be between 475,000 ish to about six 50, maybe six 75.
Santa Clarita home experts real estate new update (02:45):
That's the sweet spot here in Santa Clarita Valley. And you're going to notice that once we take that property and put it on the market, it's going to get a lot of interest. Even at the beginning, coming shown, coming soon stage whenever take the property, we'll have a discussion with you, exactly what it means, but we'll take it. We'll put it into the multiple listing service under our coming soon category. What happens with that is the agents that have their clients set up on a search. Those clients are typically very, very ready to purchase. They are really the creme de LA creme of the buyers out there because they already have selected a real estate agent. The agent's already vetted them and they've been pre-approved. And then they've set up a search within the multiple listing service for their particular clients. That being said, once the agent goes into the multiple listing service, they will set up that particular search and it will include coming soon listings.
Santa Clarita home experts real estate new update (03:42):
So whenever I take a property, make it coming soon for up to 21 days, it depends on me, my sellers drive in their method. But I do explain the nuances of having a shortcoming soon timeframe and the exceptionally long 21 days coming soon timeframe. But what happens is all of those buyers, they get hit with that email with regard to your listing if it's within their criteria. So if your property is priced at six 50 is a three or four-bedroom home is anywhere in Sacramento Valley, more than likely. Once I put that listing into the MLS and coming soon, my phone's going to start ringing off the hook, not from the buyers of these agents, but actually the agents themselves saying, Hey, Connor, it's Tom over here at Realty Executives. Can you do me a favor? Is there any way your seller's going to let my buyer into the property maybe tomorrow, the next day.
Santa Clarita home experts real estate new update (04:38):
And I will already have that discussion has had that discussion with you and see if that's okay. I'll also explain why it might be better to wait. This is also a way to build interest into a particular property and it does actually work very well. The other thing that's interesting about it, if you didn't know, is that real estate syndication websites don't get ahold of the data. So there, aren't able to display these coming soon listings and it was years ago. And I remember this even up to a little bit recent times when the syndication websites, the Zillow's the truth is the red fence. They did have the ability to have agents themselves put listings that weren't actually on the multiple listing service into some kind of a, they called it a pocket listing or I think they also might've called it a coming soon listing category.
Speaker 2 (05:32):
There was no vetting process that listing didn't even have to be real.
Santa Clarita home experts real estate new update (05:36):
So now most agents aren't going to go there. They're not going to go on the makeup, a fake listing. We used to see this years ago with the real estate book. If you remember that, I think it is still in publication, but it used to be at one time, just about as thick as a cosmopolitan magazine. Well, if you've ever seen one of those anyway, we're talking thick, right? Lots of listings in that particular magazine, there was no process. So there was no entity that was saying, Hey, you know what we need to verify this listing is a real thing before you can put it into our publication, nothing like that. The coming soon listing within the multiple listing service, you have the, you have the enforcement mechanism of either an ager being fine by doing something wrong or actually having their ability to be a realtor revoked so they could lose their license.
Santa Clarita home experts real estate new update (06:22):
So you know that they're good. They're going to be a hundred percent accurate with respect. And you're only going to get them because you have an agent that you've been talking to and that agent is going to get you set up on that search. So you see those coming soon listings. So that's part of it under the coming soon category. So we have 269 active listings on the market for sale. This is going to run all the way from acting Aqua DALSA Canyon Country, Castaic, new hall, sagas Stevens, Rancho Valencia. So the entire area in Santa Clarita Valley that said 269 in process listings, those properties that actually happen to be under contract and also pending, which are both in escrow 680. So it kind of gives you an idea if we weren't to have any listings come onto the market and the Le in the next month to 45 days, we would be at zero listings on the market for sale.
Santa Clarita home experts real estate new update (07:18):
That would be it. We would have depleted all of our inventory. Thank God. There are still people that are wanting to sell real estate and they're putting their listings on the market. Most of those listings that are coming on the market are priced correctly. They are priced to sell in some cases. And you're going to have to talk to your agent about this, but in some cases, some of the sellers I'd have been a little bit overzealous in their pricing strategy. And they're up a little bit higher, but don't ever let that stop you because if you see a property after you do your due diligence, and of course your agent does theirs fire off an offer at whatever you think the value of the property is, that's the way it works. Don't be scared because somebody happens to be 20, 30, or 40 or $50,000 higher than what you believe the property is worth.
Santa Clarita home experts real estate new update (08:05):
Don't be scared and firing off an offer. That's 20, 30, 40, $50,000. Then their current list price. The worst thing that can happen, right? It's a seller can say, no, that's it. You're not gonna run and your credibility. And again, I know your agent would be more than happy to fire off an offer like that. If your agent gets in a TIFF or a little bit irritated, then you might be working with the wrong agent. Because as far as I'm concerned with my clients that want to write a lower than listing price offer, I'm all for it. What I do with my clients, as well as I do provide for them all of the comparable data for any real estate listing, they might be interested in. So once I gather that data, then I know, and I have to have looked at the property first.
Santa Clarita home experts real estate new update (08:50):
I can look at pictures, but she's not the same. I know most of the tracks out here in Santa Clarita Valley, most of the neighborhood floor plans of the residents as, but again, I really have to see it to be able to make that leap and start talking about what I would offer on the property. What I believe the property is worth. So you should follow up with your agent, but again, if your agent says that's not necessary or something that doesn't make sense, I want to reevaluate the agent that you chose. All right. So back to this. So I covered all those cities, uh, the properties that are actually in escrow 680. Now, let me show you this, that coming soon field is something that started back around may of this year. So May 1st, May 5th. I believe that all had to be done. That's coming soon.
Santa Clarita home experts real estate new update (09:41):
So there's a whole policy that's been put together with it, but currently in all the cities instead of creative Valley, 38. So there are 38 properties that you're not going to see on Zillow, Redfin, Trulia, realtor.com, not even on Santa Clara, the home experts.com because they're only accessible through the multiple listing service. So what you need to do, if you want to see these coming soon, listings hit me up with an email Santa Cruz, home experts.com. You'll see contact information for these. Send me a text, send me an email, tell me what you're looking for. And I'll set it up for you. So you'll be able to see these listings before they actually hit the market. There are 38 potential listings that might fit your criteria, that you're not seeing doing your Zillow, searcher, Redfin searches or realtor.com search. You're just not seeing these listings because they're not allowed to be in those systems as of yet.
Santa Clarita home experts real estate new update (10:30):
Now once they go active, sometime between zero and 21 days after they've been entered into the multiple listing service as coming. So then sure you'll see them on all the sites. But again, if you can get in early, it doesn't hurt. And at least that way, it gives you a little bit more of a comfort zone to operate and develop some kind of a strategy because realistically folks, real estate is a lot about strategy today
because of the lacking real estate market for sale lacking listings and the sellers are looking to have all of there, all of their checks and balances accounted for. So if they're looking for, if they have five buyers on the table and only one of those buyers maybe had written a love letter, something that showed their interest on the property, building up a little bit about their background information and were able to pull on the seller's emotional strings, then that buyer's probably going to get the property, everything else being equal.
Santa Clarita home experts real estate new update (11:32):
And in some cases, even if everything is else is an equal and sometimes that love letter actually does help push those particular buyers over the top. I do have a love letter, a blog that I did put together. You can get there by if you want to see what that consists of, go to Santa Clara, the home experts.com forward slash love letters, and you'll be able to find it or just Google Santa Clara, the home experts love letters, and you'll be able to find that particular article that I did put together. And you'll be able to see how to properly format a love letter. Now, when you do it, don't go overboard with anything because a lot of sellers out there can also see that maybe you're doing this for some particular purpose, other than just wanting to convey who you are and telling the seller that you're really interested in the house, and you really want to buy it.
Santa Clarita home experts real estate new update (12:22):
Other than that, just keep it that way. Don't try to go too far. Don't try to say, Oh, it's the most gorgeous house in the world. All of this stuff, a lot of the seller's can kind of smell. If you may be going into a place that sounds a little bit self-serving, although the ladder is self-serving, you know, don't, don't, you know, make it cool. So whenever my buyers do it, I definitely look at the love letters and I do correct or change certain things. If in fact, I think the love letter is a little bit over the top and it's going to create some kind of a problem, but that love letter going in with them, the complete offer with a very solid local lender as doing the loan approval and maybe having an underwriter approval on top of the loan approval, which shows that the buyer has already been vetted all the way through the entry, the writing process, which any agent that receives that type of offer is going to say, Oh my gosh, this is a really strong offer.
Santa Clarita home experts real estate new update (13:17):
And that's what we do for our sellers. Whenever we're looking at offers that come in, we liked those offers. Even if they might be contingent on them, selling a property, if that property that this buyer has to sell before they can buy my solar's property, isn't even listed for sale. That's not a good thing. It's gotta be listed for sale and even better. It's gotta be an escrow. And then we need to find out me doing my due diligence. I got to find out how deep it is. This goes, well, Connor, what do you mean by deep? I'll tell you what I mean by deep in fact, what if the, of the buyers residents have something to sell and the buyers and the buyers and the buyer's residents have something to sell. You can see that's three levels deep. So if one of these people, everybody contingent on their home selling one of these people has a buyer that has an issue, goes to the pottery barn.
Santa Clarita home experts real estate new update (14:10):
He gets a line of credit, goes out and buys the newest, biggest baddest Ford truck, and puts it on financing. It could kill that buyer's ability to purchase thereby the entire transaction. Every transaction committed to this could tumble like a house of cards. The big, the biggest thing than to worry about are those multiple level transactions. Thereby at least if you're going to accept it, if your agent says, this is really where you need to be, that's fine. But at least you understand that process. So if something
doesn't does happen, if one of those cards in this house of cards happens tumble and fall, you understand that you might be back to zero, starting over and having to put the property back on the market is active and then expect subjecting a new buyer to come in the agent also. And I do this as well for our sellers.
Santa Clarita home experts real estate new update (15:07):
We keep track of everybody that came through. If there are multiple offers, it's a really easy process for us to contact the five or six other people that didn't get the property and contact those agents and say, Hey, listen, Jack, the property did happen to fall out of escrow. Nothing to have to do with the house. Of course, it was a buyer finance issue. So now you're up. Are your buyers still interested? Let me know. And then we take it from there. So you make four or five of those phone calls to the people that are interested. Plus switch the property back to active in the multiple listing service. Then you're going to start getting that kind of interest on the property. And I wouldn't fret too much in this market. You're not going to really lose anything except time. And if you need to sell to buy something else, you could potentially lose that other property as well.
Santa Clarita home experts real estate new update (15:56):
But these are all things that have to be discussed upfront. So you at least know the dangers of making particular moves in real estate. And a good agent will do that. They'll sit down with you and they'll discuss everything. Now I had a call last week. Somebody wants to sell their residence. I'm going to be meeting with them soon. They want to know in just waving at my motion detector here. So the lights don't shut off. Oh, well it worked great, but at least I'm still looking good here. So we're going to keep going. All right. So I got a call. They want to know what to do to their residents, to be able to get the most money out of it. And they talked about, I believe they've already done the kitchen. They've already done the flooring and they've updated some bathrooms. And that's really, really good.
Santa Clarita home experts real estate new update (16:39):
And the question was from the color, you know, are these good things? And I say dollars to donuts, almost everything, depending on competition, doing the kitchen and bathroom, you're not going to be able to go wrong. You're going to pretty much get dollar for dollar out of those items. Now there are some other items that you might think that really needs to be done, but you're not going to get dollar for dollar out of it. Some of the items might be painted. If the pain's not too bad going through and putting on fresh paint, it might not add very much to it because a lot of times people want to go on those properties and repaint. And if you have carpet in place, but I think about ripping it all up and replacing it I'd want to look at because ultimately there's a lot of good carpets, cleaner companies out there that'll cost you a couple of hundred bucks, but they can make that carpet pop.
Santa Clarita home experts real estate new update (17:29):
And again, those particular buyers, most of them, especially if you have pets, they're going to want to get rid of that carpet anyway and start over. So these are things that probably, you're not going to get your money out of if you replace. So it's things like that and what's necessary to make that mechanism work. Cause I actually have, I actually have to come out to the property, look at it in person. The other thing, uh, I told this lady, you know, I don't go to the property with the contracts. In my hand, that's kind of an old school method that the new the internet has brought so much information out there. I think a lot of people realize that when an agent shows up with contracts, loaded, locked stock and barrel wanting you to sign on the line, which is dotted to be able to start the process.
Santa Clarita home experts real estate new update (18:14):
And then if you don't want to sign really well, haven't I answered all your questions. What other questions do you might have? What are their objections? Can I fulfill it? If I do answer your objections, are you willing to sign the contract? These are all hard closes and that's fine. I just don't do it that way. So ultimately, if I find somebody, they like me, I have confidence that they're gonna use me. They're gonna call me whenever they're ready. They're to say, Connor, you came out to our house. You gave us some good advice about it. We have the house ready, regular listed, and go on the market for sale and boom Connor is there and it's all done. That's the way that I operate. So looking at this. So there are 38 properties that happened to be out there that are in the coming soon category.
Santa Clarita home experts real estate new update (18:53):
Something to be aware of, if you want to be put on a coming soon category search for Santa Clarita Valley, real estate Eamon areas outside Santa quatre, feel free. I am Connor MacGyver. This is Santa Clara, home experts.com. You can find us everywhere. Online I have to do is Google sonically at home experts or Sacary real estate. And you'll find Connor MacGyver. I would love to speak with you. Thank you, Lord, for this excellent opportunity to speak with these people. And I do appreciate your time. Everybody has a fantastic rest of your day and week, and I'll be back next week with another Santa crater real estate update. Be safe, be good to make Stuart Mark choices. And also don't jump into real estate without having a good qualified, knowledgeable real estate advisor. If I fit that bill, please reach out Connor MacGyver over now I found a stop button.